David G. Weil Bankruptcy Law Blog on Lawyers.com

California Comes in 39th in Ranking of States for Financial Stability

Friday, February 10, 2012 by David G. Weil

When an economy suffers for years at a time as the American economy
has, it can be difficult to understand the entire picture because the
specifics of local economies can be so vastly distinct from others.
However, one group has been attempting to bring about a level of
understanding regarding the relative economic health of different places
by studying and publishing scorecards that rank states according to the
financial stability of its residents. The latest scorecard has been
released, and it is not good news for California.

Specifically,
the Corporation for Enterprise Development, or CFED, has recently
completed its 2012 state rankings regarding the overall financial
stability for residents. The factors that were used in determining
these rankings included financial assets and income, business
environment and jobs, housing and home ownership, healthcare and
education. California came in 39^th place out of the 50 states and the District of Columbia, which places the state in the lower third of all states surveyed.

The biggest reason that California finished with such a dubious
ranking was because of its letter grade for housing and home ownership,
which received an F for obvious reasons. Healthcare also received a D,
and C’s were assigned to financial assets and income and education.
Business environment and jobs scored the highest of the categories with a
B. Needless to say, this does not paint a positive picture about the
overall financial stability level for California residents.

San Diego Bankruptcy Lawyers

Clearly, anyone who lives in California understands that the
residents of the state are struggling in a collective and an individual
sense. Many people are suffering with financial problems that seemingly
do not provide a way out from under mounting stress and debt. People
in this position need to take proactive steps to put these problems in
the past.

If you are tired of being constantly worried about finances, seek the help of San Diego bankruptcy lawyers who have helped thousands of consumers emerge from this stressful experience successfully. Contact the Golden State Law Group today to schedule a free initial consultation.

Posted at 18:39 PM

Topic: Bankruptcy